THL PE Associate 2024 Interview
It seems that firms are certainly ramping up the interviews again. Has anyone had any insight on THL partners and their process?
Heard they started reaching out, and am very interested in that firm. Would like to hear any input that anyone has.. Thanks
Disappointing if so… Feel like I have a good background / resume at a solid group in a mid-BB but not getting any looks from my top choices….
What are your top choices?
UMM funds (BDT, MDP, THL, Veritas, etc) also certain MFs that are still in market. Have great conversations with headhunters and gotten good feedback from info sessions but just nothing on the interview front lol.
Initial interviews were a mix of behaviorals and deal-related questions. 60 or 90 minute model test. Idk specific length but nothing crazy long. Some more interviews on investment judgment kinda related qs, meeting someone from HR, maybe more behavioral stuff and then a final interview with an MD, which is chill. Nothing that unusual I guess? They were doing Zoom interviews back when most funds were in person (at least NYC ones) so not sure if that's still the case now that COVID has kinda normalized.
I met people at an info session once and thought that most of them were nice. My roommate was at a MM bank and worked with them on a deal and said they were kind of a pain in the ass lol. Did a ton of work and then ended up lobbing an insanely low bid. Makes me question the culture a bit but personally haven't interacted with them outside of that info session and would otherwise have a semi-favorable impression of them based on the 4-5 people I spoke with
Very helpful - thank you. What team did ur roommate overlap with? Seems like culture varies widely by sector team
Healthcare - he did both HCIT and services, not sure how their coverage is split but would assume the same
Any idea which of the three sector teams has strong perception in the market? Seems like healthcare is historically strong albeit rumored for being sweaty. Haven’t heard much about FinTech and Tech teams but know the Tech group recently launched an automation sidecar.
Imo Tech / HC are the best groups
Why so? Any particular reason?
Anyone have insight into what the case study is like?
Or what the model test is like?
Anyone hear anything from THL about interviews that occurred last two days? Feel like it’s bound to move slowly, but still wondering…..
Has anyone heard of next steps after the case study?
Wondering same thing. Felt very confident coming out of the interview so guessing things will move slowly. Might here back in next few days
Not sure if helpful but I went through their offcycle process for a ‘23 start. Put simply, it was a very fast process. Might have been specific to filling the rest of the class - but would say it definitely felt like a traditional oncycle with 5+ interviews in one day and heard offers went out within 24hrs of first interview.
I’d imagine, however, the 2024 process will be slower given macro conditions as well as the later start date.
Good luck to you all - seems like an amazing shop to work at. Growing AUM & fund size, first quartile returns for last two funds (although still early so we will see how these hold given environment), large equity check sizes which leverage SWF coinvest, internal promotion to VP path, strong HBS pipeline, decent cash comp with coinvest upside, hybrid workplace, automation fund and tech focus, etc.
Work for an LP that works with them a fair amount and have two friends who have worked there so wanted to add to this comment.
Fundraising momentum has been solid but they're doubling down on this tech and automation strategy and I am not sure how that's going to pan out. We like co-investing with them on large deals because it helps reduce our effective fees but I think it's going to be harder for them to succeed when they're competing against BX and H&F than an assortment of MM funds. Automation fund also looks at tiny deals. Problem is associates are looking at deals across the spectrum so they're spread so thin and are constantly boiling the ocean on low probability deals.
Culture is a mixed bag. Firm has hired a ton of people over the last few years and has changed a lot. Seems like there might actually be more sharp elbows than nice people at the mid to senior ranks although I have generally liked the people I have worked with there. Associates tend to be nice although they look tired lol. I think their 3 day per week model in the office is good. They definitely work a lot. Known to be on the sweatier side but there are definitely worse funds for WLB just in Boston itself (cough Audax).
Also HBS pipeline has weakened significantly over last 5-10 years. More kids going to Wharton now. Bain, Berkshire, maybe even Charlesbank and Cove Hill will give you better HBS odds if you're trying to optimize for that in Boston.
Less certain if I'd want to build a career there but seems like a decent spot to work for 2-3 years. Will get plenty of deal reps and have a solid brand name on your resume.
Hey do you mind if I pm you about your process - really interested in the fund and have a round coming up
Has anyone gotten offers?
You get a model test yet? I feel like this process will drawn out
Has anyone gotten offers?
Lol relax man. Asking 3 times is going to make a difference. Second rounds haven’t even gone out
Kid in my class got an offer there. I know other people who at least had 3-5 interviews but highly doubt they've wrapped up the whole process. If you're bugging out, try emailing CPI.
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